16 h. ago Royal Navy shipbuilder in limbo owing to cash shortage at Liberty Steel plant

Call for UK state to step in after Gupta-owned Dalzell works in Scotland unable to produce metal for three new warshipsA shipbuilder for the Royal Navy faces an uncertain wait for the steel to build three warships because of a shortage of cash at the Scottish steel mill that has won the contract.Liberty Steel Dalzell in Scotland has been unable to start production in earnest because there is “no cashflow to buy slab”, despite an order to supply 34,000 tonnes of metal plates to build fleet solid support (FSS) ships for the navy, according to two sources with knowledge of the situation. Continue reading...

Economics

38 h. ago Shelling out? Easter eggs in the UK are smaller but pricier this year

Chocolate treats reduced in size or weight as higher price of cocoa drives new wave of ‘shrinkflation’Chocolate eggs are looking smaller than ever this year and it is not just because Easter is still so far away.Many of the Easter eggs already out on supermarket shelves this month not only cost more, but have been reduced in size or weight as the price of cocoa has driven a new wave of shrinkflation. Continue reading...

Politics

55 h. ago ‘The dollar is losing credibility’: why central banks are scrambling for gold

Experts say central banks are increasingly stuffing their vaults as an insurance policy in a volatile worldFifteen minutes after takeoff, the call came for Serbia’s central bank governor: millions of dollars’ worth of gold bars, destined for a high-security Belgrade vault, had been left on the runway of a Swiss airport.In air freight – despite the extraordinary value of bullion – fresh flowers, food and other perishables still take priority. “We learned this the hard way,” Jorgovanka Tabaković told a conference late last year. Continue reading...

Politics

59 h. ago Bank of England governor hits out at populism as Trump interferes in US Fed

Andrew Bailey says he and heads of other institutions have duty to ‘challenge back’ populist narrativesBusiness live – latest updatesThe governor of the Bank of England has urge the world’s leading global institutions to fight back against the rise of populism, warning that it represents one of the biggest threats to improvements in living standards.In a thinly veiled response to Donald Trump’s attempts to interfere with the independence of the US Federal Reserve, Andrew Bailey said that he and the heads of other institutions had a duty to “challenge back” populist narratives. Continue reading...

Politics

65 h. ago BP accused of ‘insidious’ influence on UK education through Science Museum links

Campaigners claim firm has bought sway over the teaching of science, technology, engineering and maths Campaigners have accused BP of having an insidious influence over the teaching of science, technology, engineering and maths (Stem) in the UK through its relationship with the Science Museum.Documents obtained under freedom of information legislation show how the company funded a research project that led to the creation of the Science Museum Group academy – its teacher and educator training programme – which BP sponsors and which has run more than 500 courses, for more than 5,000 teachers. Continue reading...

Politics

3 d. ago Furious Karoline Leavitt attacks British journalist after question about ICE shooting: 'You are a left

The White House press secretary berated The Hill's Niall Stanage as he grilled Donald Trump's mouthpiece about the killing of 37-year-old Renee Good on January 7.

Events

3 d. ago Why big oil giants may not rush to buy into Donald Trump’s Venezuelan vision

It may well be safer, easier and cheaper for US companies to procure whatever oil the US economy needs at homeThere are a few reasons that Donald Trump – now self-anointed acting President of Venezuela, as well as the United States – might be so excited about appropriating Venezuela’s oil.Trump may be counting on some boost from cheap oil to the US economy: he is obsessed with the price of gas. As the midterm elections approach, he has become concerned about unemployment. Deeply imprinted memories of scarcity during the oil crises of the 1970s may prime his belief that cheap oil cures it all. Continue reading...

Politics

3 d. ago ‘The consumers are still out there’: why a bankruptcy for Saks Global may not spell the end

Just more than a year after the new luxury behemoth was formed, it announced it had filed for chapter 11 bankruptcyEvery year, the stores down Manhattan’s Fifth Avenue dress up their windows at Christmastime. Tourists from all over the world come to gawk at all the glitter, lace, ruffles and bows.Saks’s Fifth Avenue location, so iconic that it’s embedded in the brand’s name, is usually dressed top to bottom during the holidays. In 2023, the store partnered with Christian Dior to display a giant zodiac calendar. As part of the light show, fireworks were released from the top of the store to the oohs and aahs of spectators. Continue reading...

Politics

3 d. ago The crisis whisperer: how Adam Tooze makes sense of our bewildering age

Whether it’s the financial crash, the climate emergency or the breakdown of the international order, historian Adam Tooze has become the go-to guide to the radical new world we’ve enteredIn late January 2025, 10 days after Donald Trump was sworn in for a second time as president of the United States, an economic conference in Brussels brought together several officials from the recently deposed Biden administration for a discussion about the global economy. In Washington, Trump and his wrecking crew were already busy razing every last brick of Joe Biden’s legacy, but in Brussels, the Democratic exiles put on a brave face. They summoned the comforting ghosts of white papers past, intoning old spells like “worker-centered trade policy” and “middle-out bottom-up economics”. They touted their late-term achievements. They even quoted poetry: “We did not go gently into that good night,” Katherine Tai, who served as Biden’s US trade representative, said from the stage. Tai proudly told the...

Events

4 d. ago BP to take hit of up to $5bn on green energy as it refocuses on fossil fuels

Energy company also under pressure from worse oil trading performance and weaker oil pricesBusiness live – latest updatesBP has said it expects to write down the value of its struggling green energy business by as much as $5bn (£3.7bn), as it refocuses on fossil fuels under its new chair, Albert Manifold.The oil company said the writedowns were mostly related to its gas and low-carbon energy divisions in its “transition businesses”, but added that wiping between $4bn and $5bn off their value would not affect its underlying profits when it reports its full-year results in February. Continue reading...

Events

4 d. ago McKinsey asks graduates to use AI chatbot in recruitment process

Blue-chip consultancy’s boss says firm has an AI ‘workforce’ of 20,000 agents operating alongside its 40,000 staffBusiness live – latest updatesMcKinsey is asking graduate applicants to “collaborate” with an artificial intelligence tool as part of its recruitment process, as competence with the technology becomes a requirement in competing for top-level jobs.The blue-chip consultancy is incorporating an “AI interview” into some final-round interviews, according to CaseBasix, a US company that helps candidates apply for posts at leading strategic consulting companies. Continue reading...

Politics

4 d. ago Trump hits back at JP Morgan CEO’s defence of Federal Reserve

US president says Jamie Dimon was wrong to suggest he was undermining independence of central bankBusiness live – latest updatesDonald Trump has hit out at the JP Morgan boss Jamie Dimon, saying the Wall Street executive was wrong to suggest he was undermining the independence of the Federal Reserve.The US president and his administration have come under fire for their attacks against the Fed’s chair, Jerome Powell, who is now facing a criminal investigation by the US Department of Justice over alleged “abuse of taxpayer dollars” linked to renovations to the central bank’s headquarters in Washington. Continue reading...

Politics

4 d. ago RBS regional growth tracker: Scotland’s private sector prospects for 2026

“It is clear that inflation is continuing to put pressure on companies and customers” – Judith Cruickshank, Scotland board chair, RBS

Politics

4 d. ago Debt collection experts warn UK businesses to protect cashflow in 2026

Top debt collection specialists urge UK companies to adopt proactive measures to protect their financial stability.

Events

4 d. ago Economic conflicts are world’s greatest risk, WEF survey suggests

Extreme weather events and biodiversity loss identified as the biggest global threats over a 10-year timeframeEconomic conflicts between major powers are the greatest risk facing the world over the next two years, according to experts polled ahead of next week’s Davos summit.Among 1,300 business leaders, academics and civil society figures surveyed by the World Economic Forum (WEF), “geoeconomic confrontation” was identified as the most pressing threat. Continue reading...

Events

5 d. ago Quarter of developing countries poorer than in 2019, World Bank finds

Global growth ‘downshifted’ since Covid pandemic and sub-Saharan Africa particularly affected, report saysBusiness live – latest updatesA quarter of countries in the developing world are poorer than they were in 2019 before the Covid pandemic, the World Bank has found.The Washington-based organisation said a large group of low-income countries, many in sub-Saharan Africa, had suffered a negative shock in the six years to the end of last year. Continue reading...

Politics

5 d. ago Guinness and Johnnie Walker owner Diageo ‘could sell Chinese assets’

Reported move would be part of new CEO Dave Lewis’s streamlining of world’s largest spirits makerBusiness live – latest updatesDiageo’s new boss, Dave Lewis, has barely started in the role, and the maker of Guinness and Johnnie Walker is already reportedly considering selling off its Chinese assets to trim down its portfolio.The world’s largest spirits maker, whose other brands include Smirnoff vodka, Captain Morgan rum and Don Julio tequila, is working with Goldman Sachs and UBS to review its operations in China, where sales have been falling, according to Bloomberg News. Continue reading...

Politics

5 d. ago Global central banks offer ‘full solidarity’ to US Fed’s Powell amid Trump threats

Nine governors including Bank of England’s Andrew Bailey and ECB’s Christine Lagarde say independence is criticalBusiness live – latest updatesGlobal central banks have issued an extraordinary joint statement offering “full solidarity” to the US Federal Reserve chair, Jerome Powell, in the face of the latest threat to his independence from Donald Trump’s White House.“The independence of central banks is a cornerstone of price, financial and economic stability in the interest of the citizens that we serve. It is therefore critical to preserve that independence, with full respect for the rule of law and democratic accountability,” the statement said. Continue reading...

Politics

5 d. ago Eleven central bank chiefs defend Fed’s Jerome Powell over DoJ investigation; oil hits two

Rolling coverage of the latest economic and financial news, as Trump says countries doing business with Iran face 25% tariff on US tradeGlobal central bank officials are reportedly planning to release a coordinated statement of support for US Federal Reserve Chair Jerome Powell, after America’s top central banker was threatened with a criminal indictment.Reuters is reporting that the statement, which is expected to contain the signatures of central bankers from around the world, will back Powell and stress the need for independent central banking. Continue reading...

Events

5 d. ago What's on the economic horizon: The Standard's Business Editor Jonathan Prynn on the year ahead

A survey of finance chiefs from accounting firm Deloitte found “geopolitical risk” ranked the number one concern among major UK businesses

Economics